BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of solicitors, specialising in private and public law. 14 March 2024 NI640711 2023-10-31 NI640711 2022-10-31 NI640711 2021-10-31 NI640711 2022-11-01 2023-10-31 NI640711 2021-11-01 2022-10-31 NI640711 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI640711 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI640711 uk-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI640711 uk-bus:FullAccounts 2022-11-01 2023-10-31 NI640711 uk-bus:Director1 2022-11-01 2023-10-31 NI640711 uk-bus:RegisteredOffice 2022-11-01 2023-10-31 NI640711 uk-bus:Agent1 2022-11-01 2023-10-31 NI640711 uk-core:ShareCapital 2023-10-31 NI640711 uk-core:ShareCapital 2022-10-31 NI640711 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI640711 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI640711 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI640711 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI640711 uk-bus:FRS102 2022-11-01 2023-10-31 NI640711 uk-core:Goodwill 2022-11-01 2023-10-31 NI640711 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI640711 uk-core:Goodwill 2022-10-31 NI640711 uk-core:Goodwill 2023-10-31 NI640711 uk-core:CurrentFinancialInstruments 2023-10-31 NI640711 uk-core:CurrentFinancialInstruments 2022-10-31 NI640711 uk-core:WithinOneYear 2023-10-31 NI640711 uk-core:WithinOneYear 2022-10-31 NI640711 uk-core:WithinOneYear 2023-10-31 NI640711 uk-core:WithinOneYear 2022-10-31 NI640711 2022-11-01 2023-10-31 NI640711 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LTON Solicitors Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2023
LTON Solicitors Limited
DIRECTOR AND OTHER INFORMATION

 
Director Ms. Mary Hunter
 
 
Company Registration Number NI640711
 
 
Registered Office and Business Address 54 English Street
Armagh
Co. Armagh
BT61 7DU
Northern Ireland
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers Bank of Ireland
  11 Upper English Street
  Armagh
  Co. Armagh
  BT61 7BH
  United Kingdom



LTON Solicitors Limited
Company Registration Number: NI640711
BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 4 36,000 48,000
Tangible assets 5 1,187 1,484
───────── ─────────
37,187 49,484
───────── ─────────
 
Current Assets
Stocks 6 79,351 67,652
Debtors 7 126,142 104,157
Cash and cash equivalents 2,306,679 2,819,342
───────── ─────────
2,512,172 2,991,151
───────── ─────────
Creditors: amounts falling due within one year 8 (2,431,647) (2,934,181)
───────── ─────────
Net Current Assets 80,525 56,970
───────── ─────────
Total Assets less Current Liabilities 117,712 106,454
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 117,711 106,453
───────── ─────────
Equity attributable to owners of the company 117,712 106,454
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 14 March 2024
           
           
           
________________________________          
Ms. Mary Hunter          
Director          
           



LTON Solicitors Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
LTON Solicitors Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 54 English Street, Armagh, Co. Armagh, BT61 7DU, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of solicitors, specialising in private and public law. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of legal services provided by the company, exclusive of value added tax. The company recognises revenue upon completion of services being provided.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Work in progress
Work in progress is reflected in the accounts at the expected revenue due for work carried out during the period that has not yet been invoiced.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 8, (2022 - 8).
 
  2023 2022
  Number Number
 
Director 1 1
Employees 7 7
  ───────── ─────────
  8 8
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 November 2022 120,000 120,000
  ───────── ─────────
 
At 31 October 2023 120,000 120,000
  ───────── ─────────
Amortisation
At 1 November 2022 72,000 72,000
Charge for financial year 12,000 12,000
  ───────── ─────────
At 31 October 2023 84,000 84,000
  ───────── ─────────
Net book value
At 31 October 2023 36,000 36,000
  ═════════ ═════════
At 31 October 2022 48,000 48,000
  ═════════ ═════════
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 November 2022 5,317 5,317
  ───────── ─────────
 
At 31 October 2023 5,317 5,317
  ───────── ─────────
Depreciation
At 1 November 2022 3,833 3,833
Charge for the financial year 297 297
  ───────── ─────────
At 31 October 2023 4,130 4,130
  ───────── ─────────
Net book value
At 31 October 2023 1,187 1,187
  ═════════ ═════════
At 31 October 2022 1,484 1,484
  ═════════ ═════════
       
6. Stocks 2023 2022
  £ £
 
Work in progress 79,351 67,652
  ═════════ ═════════
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 126,142 103,865
Other debtors - 292
  ───────── ─────────
  126,142 104,157
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 21,517 24,790
Other loans 5,441 5,441
Taxation  (Note 9) 38,402 20,636
Director's current account 59,607 61,773
Other creditors 2,301,880 2,816,741
Accruals 4,800 4,800
  ───────── ─────────
  2,431,647 2,934,181
  ═════════ ═════════
       
9. Taxation 2023 2022
  £ £
 
Creditors:
VAT 17,407 8,992
Corporation tax 15,427 9,846
PAYE / NI 5,568 1,798
  ───────── ─────────
  38,402 20,636
  ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.